Stay updated with breaking news from Axis Securities. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Axis believes that the said recovery will begin at the start of the new year and FY25 will show strong revenue growth. The brokerage has picked Coforge, Persistent Systems, and KPIT Technologies as its top IT sector picks post the December quarter (Q3FY24) results.
Major recipients for these tenders are L&T (Rs 3.03 crore), BHEL (Rs 1.94 crore), and Polaris Smart Metering (Rs 0.52 crore), says the report.
Aditya Welekar of Axis Securities discusses the Novelis IPO's potential uses of funds, including capex and acquisitions. Hindalco aims to unlock Novelis' value and raise cash without increasing net debt. The stock's performance and valuation will depend on the IPO's outcome. Welekar says "let us hear from the management how they want to use the proceeds and based on that, we will take a call on the stock."
This is despite a 140% jump in the pharmaceutical firm’s stock prices over the past year
Retail companies have reported mixed performance, with premium retailers sustaining their growth momentum. However, value retailers continued to face pressure, noted the brokerage. Trent and Westlife Foodworld are the top picks of Axis Securities in the retail space post Q3FY24 results.